What are the key takeaways from PEP's 2024 revenue?

PepsiCo's 2024 revenue growth was lackluster, with a cumulative total revenue of $91.85 billion, showing no year-over-year growth. The fourth quarter's revenue surprise was a disappointing -$106 million, indicating that the actual revenue was significantly lower than expected.

1. **Revenue Decline**: PepsiCo's revenue fell short of expectations, missing the mark by approximately $25.626145 million. This shortfall was primarily due to weaker-than-anticipated sales in North America, which are a critical component of the company's revenue structure. Despite price increases, the volume of Frito-Lay and beverage segments experienced a 3% decline, reflecting reduced consumer demand for salty snacks and beverages due to shifting preferences towards healthier options.
2. **Global Performance**: While PepsiCo's international performance showed notable growth, particularly in markets across Africa and Asia, the positive momentum was not enough to offset the domestic sales decline. The global snack and beverage volumes increased by only 1%, which is a modest figure considering the company's expansive global reach.
3. **Market Pressures**: The macroeconomic environment posed significant challenges for PepsiCo, with increased volatility and uncertainty affecting consumer purchasing decisions. The company cited supply-chain costs related to tariffs and a cautious consumer sentiment as key factors influencing its financial performance.

In summary, PepsiCo's 2024 revenue performance was underwhelming, primarily due to declining sales in North America and macroeconomic pressures, despite efforts to grow internationally.